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NIFTY analysis with experts, Q2 review of REC, Indian markets move ahead as elections are a few days away…. Market updates for 07/12/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, Q2 review of REC, Indian markets move ahead as elections are a few days away…. Market updates for 07/12/18

Report by- Sabyasachi Bhattacharya


Q2 result of REC; Profit rises to 25% to Rs 1,764 crores-

State-owned REC posted a 25 percent jump in standalone net profit at Rs 1,764.33 crore for the September quarter, mainly due to higher revenues. Let us review their Q2 result’s key insights-

  • The company’s standalone net profit stood at Rs 1,407.76 crore in the quarter ended September 30, 2017, it said in a statement.
  • This has been the highest ever quarterly profit declared by the company, it added.
  • Total income of the company grew by 30 percent to Rs 7,299 crore in the second quarter from Rs 5,604 crore a year ago.
  • The company sanctioned loans of Rs 49,003 crore in the second quarter, which were 120 percent higher than Rs 22,300 crore in the year ago period. It disbursed loans of Rs 24,226 crore, which were 76 percent more than Rs 13,751 crore earlier.
  • The loan book of the company has seen a growth of 19 percent, as it grew from Rs 2.16 lakh crore as at September 30, 2017 to Rs 2.57 lakh crore as at September 30, 2018.
  • The net worth of the company stands at Rs 32,755 crore as at September 30, 2018 and the capital adequacy is also placed at comfortable levels of 16.14 percent to support the future growth of the company, it added.
  • The gross NPA ratio has fallen sequentially from 8.12 percent as at June 30, 2018 to 7.92 percent as at September 30, 2018.
  • Further, it said that there are no indications of credit impairment in the loans to the government sector, forming 87 percent of the loan book.

Source- MoneyControl, Purple Trades Research Department   




Indian Indices move ahead as Nifty surges ahead of elections –

Chart source- ChartInk

Indian markets ended the week on a positive note as major Indices, Nifty and Sensex, move ahead and ended up on a higher note. As you can see in the chart given above, Nifty had GAP-UP opening after which the Index hit a resistance at 10,650 which proved to be crucial as you can see on the chart above the resistance was tested four times. The Index finally broke the resistance ion the later stages of the market activity and moved upwards to close near the 10,700 level. Equity benchmarks ended the session on a positive note, with the Nifty ending well above 10,650-mark. Investors awaited cues from exit polls of elections in five states. Financials led the surge, backed by a huge jump in Kotak Mahindra Bank. Meanwhile, automobiles and consumption names were the big gainers, while the Nifty Midcap ended flat. At the close of market hours, the Sensex was up 361.12 points or 1.02% at 35673.25, while the Nifty was higher by 92.50 points or 0.87% at 10693.70. The market breadth was negative as 1077 shares advanced, against a decline of 1458 shares, while 155 shares were unchanged. Kotak Mahindra Bank, Adani Ports, and Bajaj Finserv were the top gainers, while Sun Pharma, Coal India, HCL Tech and GAIL lost the most.



Let’s take a look at the performance of major Indices-

Global markets had a mixed reaction as NASDAQ and DAX were seen in the RED whereas FTSE and CAC were seen in the GREEN. NIKKEI moved up by almost 0.82%.

Source- MoneyControl, Purple Trades Research Department   


Key Points for Traders to watch out for while trading Nifty tomorrow-

  • 10,675 is a short term support for Nifty.
  • If Nifty breaks 10,675 then it has the potential to go down.
  • 10,720 is a short term resistance for Nifty.
  • If Nifty breaks 10,720 then it has the potential to go up.



Top sectors that moved the market today-                            Data source- Moneycontrol



Top Gainers for today-                                                                                        Data source- Moneycontrol



Top losers for today-                                                               Data source- Moneycontrol


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